What’s the Difference Between Pre-qualified & Pre-approved?

In today’s competitive market, buyers need every advantage possible. A great place to begin is having your financing pre-approved, not just pre-qualified. With a pre-approval, the lender has obtained your documentation to support the details of your application and has had an underwriter (physically or electronically) review it for potential approval status. This benefits you in knowing what you truly qualify for and shows a seller that you have a better chance of closing than a person whose documents have not been fully reviewed. Have questions or need a lender to help you? Contact us today as we have great lenders to work with! Learn more on the differences between Prequalified vs. Preapproved?